This Smart Mobility Stock Is Rallying By 60%

August 09, 2024 | [Read Online]( This Smart Mobility Stock Is Rallying By 60% [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=This%20Smart%20Mobility%20Stock%20Is%20Rallying%20By%2060%25%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fsmart-mobility-stock-rallying-60) Good morning. It’s August 9th, and we’re going to look at positive earnings reports for Expedia and Paramount, a continued surge in Nvidia, and a smart mobility stock that is rallying by more than 60% in premarket trading. Previous Close 📈 Stocks bounced back yesterday after experiencing a sharp drop earlier in the week. The latest weekly jobless claims report eased investors' concerns about the stability of the labor market and the overall health of the U.S. economy. Futures Futures linked to all three major indices are inching up this morning, supported by a rebound in stocks after a major sell-off over the last few days. What to Watch Evergy and Legend Biotech will post their earnings before the beginning of the day’s trade. We’ll also get the quarterly earnings reports of Envestnet, Cadre Holdings, and Getty Images Holdings after the closing bell today. [Join These Two Legends for an AI Emergency Meeting]( Join Porter Stansberry, the founder and CEO of MarketWise, and Jeff Brown, one of top tech investors in America, this coming Wednesday, August 14, 8pm ET… …as they discuss an imminent seismic shift in the AI market. Most people will be blindsided and could lose a lot of money in AI stocks… But a few savvy investors will have a shot at generational wealth. [Click Here to Save Your Seat.]( Entertainment Expedia Rallies Amid Optimism Over Profit Beat Despite Travel Demand Warnings Expedia shares are rallying by more than 10% in premarket trading after the company reported quarterly profits that exceeded expectations. This surge came even as it joined other players in the travel industry in warning of a potential slowdown in demand. Expedia reported strong growth in international travel, with many tourists flocking to destinations in the Middle East and Europe. However, the company anticipates a tapering off of demand due to high borrowing costs and persistent inflation, which are expected to dampen consumer spending. Domestic travel in the United States has already been under pressure since the beginning of the year, as economic uncertainty has led more Americans to hesitate on travel expenditures. In response to the slowdown, Expedia is reducing its full-year 2024 bookings guidance to 4% year-on-year growth, down from its previous outlook of mid- to high-single-digit growth. Other travel companies, including rival Booking.com and short-term rental platform Airbnb, have also noted that consumers are becoming more cautious, waiting longer to book vacations, and being more mindful of their spending. Despite these concerns, the positive market reaction is being partly attributed to investors perceiving Expedia's guidance as conservative. Technology Nvidia Leading Tech Rebound With 6% Gain Amid Renewed Optimism Nvidia is continuing its strong performance in premarket trading today, surging another 6% following a similar gain yesterday. This rise comes as chip stocks are leading a sharp market rebound, particularly within the tech sector, after a recent downturn. The bounce-back comes after a tough period for Nvidia, which saw its market capitalization drop by over $750 billion since its June peak. The stock fell approximately 25% due to concerns that the AI trade might be losing momentum and growing fears about the U.S. economy. Nvidia, which generates over 40% of its revenue from Big Tech companies like Microsoft, Meta, Alphabet, and Amazon, continues to benefit from increased spending on data center infrastructure. Other major chip stocks, including Advanced Micro Devices (AMD), Broadcom (AVGO), and Intel (INTC), also saw significant gains on Thursday, closing more than 5% higher as the tech sector continues to recover from recent losses. Nvidia’s stock has been particularly volatile, having fallen more than 6% on Monday as part of a broader tech sell-off. Media & Entertainment Paramount's Streaming Segment Turns Profitable Amid Major Layoffs and Cable Write-Down Paramount Global is rallying by 6% in premarket trading today after it reported its first-ever profit in the streaming division during the second quarter. Despite the positive news in streaming, the company also announced a nearly $6 billion write-down on its cable business, reflecting the ongoing struggles within its linear TV operations. In a move to streamline operations, Paramount revealed plans to lay off 15% of its U.S. workforce, with the layoffs expected to be largely completed by the end of the year. This decision comes as the company prepares for a major merger with Skydance Media, anticipated to be finalized in the third quarter of 2025. Paramount's direct-to-consumer (DTC) segment reported an operating income of $26 million for the quarter, marking a $450 million improvement compared to the same period last year. However, the company’s overall revenue for the quarter fell to $6.81 billion, missing analysts’ expectations of $7.24 billion and representing an 11% decline from the previous year. Despite the first-quarter rebound in linear advertising revenue due to Super Bowl ad sales, the second quarter saw an 11% year-over-year decline, highlighting the challenges faced by legacy media companies amid increasing cord-cutting trends. [The 10 Best AI Stocks for 2024](🚀 Artificial intelligence is revolutionizing the tech landscape, driving growth across industries. From generative AI models like ChatGPT to autonomous machines, AI is at the forefront of the next wave in the Industrial Revolution 4.0. With the AI market projected to exceed $600 billion by 2030, now is the time to capitalize on this booming sector. Don’t miss your chance to be part of this growth. [Get Your Copy of "The 10 Best AI Stocks to Own in 2024" Here.]( (By clicking the link above, you will get this free report and a free subscription to MarketBeat's daily email newsletter. You are also agreeing to the terms of our [privacy policy](. Unsubscribe at any time.) Movers and Shakers Iteris, Inc. [ITI] - Last Close: $4.28 Smart mobility infrastructure management software and hardware firm Iteris is rallying by more than 60% in premarket trade today after announcing that it is being acquired by Almaviva, an Italian digital innovation group, for $335 million. This acquisition means Iteris shareholders will receive $7.20 per share in cash, which is a significant 68% premium over the previous day's closing price. My Take: The stock might rise until it reaches the acquisition target, so this may be a good one to keep a close watch on. Nauticus Robotics, Inc. [KITT] - Last Close: $1.92 Nauticus Robotics is up by nearly 55% in premarket trade. The company is announcing that it will be testing its Aquanaut Mark 2 underwater vehicle in partnership with Florida Atlantic University (FAU). This partnership will allow Nauticus to conduct necessary testing in both shallow and deep waters at a much lower cost—about 90% less than usual, which will accelerate the vehicle's readiness for commercial use. My Take: The firm has had issues with its financials for the last several years, registering huge losses. It might be best to keep this in the wait-and-watch bucket for now. Doximity, Inc. [DOCS] - Last Close: $25.66 Doximity's stock is surging by nearly 27% in premarket trade after reporting better-than-expected financial results for its first fiscal quarter. Its revenue grew by 17% year-over-year to $126.68 million, surpassing analysts’ expectations. Additionally, Doximity's adjusted earnings of 28 cents per share beat the forecasted 22 cents per share. Even though cash flow was down compared to last year, the company's strong profits and record user engagement, with 590,000 unique healthcare providers using its tools, indicate robust demand for its services. My Take: Doximity is up by about 2% year-over-year, though it has been falling in the last couple of months. The strong earnings and forecast might be a good sign to keep this one on your radar. [Man Who Called 2022 Crash Warns of Rare 2024 Event]( The S&P 500 has hit 22 record-highs this year, but according to Wall Street legend Marc Chaikin, "Blindly pouring money into the stock market is one of the worst things you could be doing today." Chaikin has identified a little-known vehicle outside of the banking system that could double or triple your life savings, even as some of the market's biggest winners may face steep losses. Most people don't know how to find this vehicle, but it has delivered gains as high as 426% in just 5 months. [Click Here to Learn More and Get a Free Recommendation.]( Everything Else - A [CVC Group](-led consortium is acquiring Hargreaves Lansdown for $6.9 billion. - [China’s inflation]( saw a surprise uptick in July, led by a surge in pork prices. - Over half of July’s [car sales in China]( were from EVs and hybrids. - A [weaker dollar]( is fueling record weekly gains for emerging market currencies. - [Taiwan Semiconductor]( posted 45% sales growth in July amid an AI boom. - The [U.S. labor market]( shows resilience as Jobless Claims fall sharply. - [India’s Mahindra]( and China’s Shaanxi plan to set up a $3 billion car manufacturing JV in India, pending government approval. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. Best Regards, — Adam Garcia Elite Trade Club [Click here]( to get our daily newsletter straight to your cell for free. P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](